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Section PS 4220 - Contributions receivable

Effective date:

January 1, 2012

Published by the PSAB:

December 2010

Overview 

This Section establishes standards for the recognition and disclosure of contributions receivable by not-for-profit organizations. A contribution receivable should be recognized as an asset when it meets the following criteria:

  1. the amount to be received can be reasonably estimated; and
  2. ultimate collection is reasonably assured.

History of Section PS 4220

Date

Development

Comments

December 2010

New Section

This new Section is part of the new accounting standards for government not-for-profit organizations establishing recognition, measurement and disclosure standards.

Sections 4200 to 4270 are effective only for government not-for-profit organizations that elect to follow the standards for not-for-profit organizations in the CPA Canada Public Sector Accounting Handbook and are effective for fiscal periods beginning on or after January 1, 2012.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.